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Morocco Sets 0.65% Card Deduction Limit
The Minister of Economy and Finance confirmed that the authorities are working to enhance electronic performance in commercial stores in order to reduce reliance on cash and promote financial inclusion. This is being achieved through organizing and facilitating digital payment methods. She explained that Bank Al-Maghrib has set a cap on electronic transaction fees at 0.65% of the transaction value starting October 2024, without passing these fees on to customers, thereby preserving the prices of goods and services. Additionally, a fund has been established to support the development of electronic payments, with the goal of equipping merchants with the necessary digital payment tools, improving the electronic performance market, and reinforcing the national trend toward reducing cash transactions.
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